PROP TX-SOUTH SUBURBAN CREDIT House SponsorsRep. Thaddeus Jones 3/27/2026HouseRule 19(a) / Re-referred to Rules Committee 30 ILCS 105/5.1030 new30 ILCS 105/6z-11230 ILCS 105/6z-144 new35 ILCS 200/15-175.1 new230 ILCS 40/60 Amends the Property Tax Code. Creates the South Suburban Property Tax Relief Homestead Exemption Pilot Program. Provides that, for taxable years 2026 through 2030, certain qualified homestead property that is used as the primary residence of an individual who has occupied the property for at least 5 continuous years as of January 1 of the taxable year is eligible for a credit against the property taxes imposed on that property. Provides that the amount of the credit is the lesser of (i) the property tax liability for the property for the applicable taxable year or (ii) $5,000. Contains provisions concerning applications for the pilot program. Provides that the Cook County Assessor may not award credits under the pilot program for more than 7,500 properties in any taxable year. Amends the State Finance Act. Creates the South Suburban Property Tax Relief Fund. Provides that moneys in the Fund shall be used to make reimbursements to taxing districts that are affected by the South Suburban Property Tax Relief Homestead Exemption Pilot Program. Makes changes to provisions concerning the Cannabis Regulation Fund to provide for transfers to the South Suburban Property Tax Relief Fund. Amends the Video Gaming Act to make conforming changes. Effective immediately. 1/7/2025HousePrefiled with Clerk by Rep. Thaddeus Jones 1/9/2025HouseFirst Reading 1/9/2025HouseReferred to Rules Committee 2/11/2025HouseAssigned to Revenue & Finance Committee 2/25/2025HouseTo Property Tax Subcommittee 3/21/2025HouseRule 19(a) / Re-referred to Rules Committee 3/12/2026HouseAssigned to Revenue & Finance Committee 3/19/2026HouseTo Property Tax Subcommittee 3/27/2026HouseRule 19(a) / Re-referred to Rules Committee